Thai household debt rises to record 85.9% of GDP at end-2014: central bank
Add BT as a preferred source
[BANGKOK] Thailand's household debt rose to a record high 85.9 per cent of gross domestic product at the end of 2014 from 84.7 per cent at the end of September, the central bank said on Tuesday.
Household debt was 10.43 trillion baht (S$437 billion) at the end of 2014, continuing to crimp consumption as the economy struggles. At the end of September, the total was 10.22 trillion baht.
The Thai economy grew only 0.7 per cent in 2014.
A senior Bank of Thailand official said the pace of increases in household debt has slowed sharply compared with in the past and "people's debt burdens should be easing following lower interest rates".
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
DBS COO’s most important tip for AI transformation: Lead with ‘why’
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
